11. [ Restrictions on voting rights. [Substituted by Act 3 of 1994, Section 3, for Section 11 (w.r.e.f. 15-10-1993). ]
No shareholder, other than the ][Central Government] [ Substituted by Act 32 of 2007, Section 5, for " Reserve Bank" (w.r.e.f. 29-6-2007).][shall be entitled to exercise voting rights in respect of any shares held by him in excess of ten per cent. of the issued capital:Provided that such shareholder shall be entitled to exercise voting rights at such higher percentage as the Central Government may, after consultation with the Reserve Bank, specify.] [Substituted by Act 3 of 1994, Section 3, for Section 11 (w.r.e.f. 15-10-1993). ][Provided further that the shareholder holding any preference share capital in the State Bank shall, in respect of such capital, have a right to vote only on resolutions placed before the State Bank which directly affect the rights attached to his preference shares:Provided also that no preference shareholder, other than the Central Government, shall be entitled to exercise voting rights in respect of preference shares held by him in excess of ten per cent. of total voting rights of all the shareholders holding preference share capital only.] [Substituted by Act 27 of 2010]
